The Social Security System (SSS) is a government agency in the Philippines that provides social security benefits to its members. Every year, the SSS releases a contribution table that determines how much its members should pay. The table is based on the member’s monthly salary credit (MSC), which is the basis for computing their benefits.
It is mandated by law to collect contributions from employees, employers, voluntary members, self-employed individuals, overseas Filipino workers (OFWs), and non-working spouses. These contributions are used to fund various social security programs, such as retirement, disability, death, and maternity benefits.
The SSS contribution table is an important tool for both the SSS and its members, as it ensures that the agency has enough funds to provide the necessary benefits to its members.
In this article, we will discuss the new SSS contribution table for 2023, including its implications for employees, employers, self-employed individuals, OFWs, and voluntary members. So, let’s get started!
What is the SSS Contribution Table?
The official schedule issued by the Social Security System in the Philippines that outlines the monthly contributions of its members based on their monthly salary credit or range of monthly compensation serves as a guide for SSS members. This schedule is known as the SSS Contribution Table, and it is essential for members to understand its overview, importance, benefits, guidelines, and changes.
The SSS Contribution Table is important because it determines the number of monthly contributions that members need to pay to avail of the benefits and privileges offered by the SSS. The contributions collected from members are used to fund various social security programs, such as retirement, disability, and death benefits.
Understanding the SSS Contribution Table is crucial for members to maximize the benefits they can receive and ensure that they are paying the correct amount of contributions. Additionally, the SSS Contribution Table is subject to changes, and members need to be updated with the latest version to avoid penalties and other related issues.
Type of Contribution Table
The SSS contribution tables determine the required monthly or quarterly contributions for different member types. The contributions provide access to SSS benefits.
- SSS Contribution Table for Employees and Employers
- SSS Contribution Table for Self-Employed Members
- SSS Contribution Table for Overseas Filipino Workers (OFWs)
- SSS Contribution Table for Voluntary Members and Non-Working Spouses
- SSS Contribution Table for Household Employers and Kasambahays
Advantages of the New SSS Contributions Schedule
The recently updated schedule for SSS contributions brings several benefits to its members. One of the most significant advantages is the increased coverage of members’ monthly income, which ensures that more individuals are included in the program and can receive the necessary benefits.
Additionally, the updated schedule highlights the importance of savings and ensures larger future benefits for its members. By obligating employers to contribute 9.5% towards the Worker’s Investment and Savings Program, the SSS encourages its members to save more for their future and provide greater financial security.
The impact of the updated SSS contribution schedule cannot be overstated. The increase in monthly income coverage and larger future benefits are essential for the financial stability of its members. The obligation for employers to contribute more towards the Worker’s Investment and Savings Program will also make a significant impact on the savings and security of SSS members.
Overall, the new SSS contribution table is a significant step towards ensuring that its members have access to better benefits and financial security in the future.
Updated Deadline for SSS Contribution Payment
Under the updated schedule, members now have an extended deadline for payment. Regular employers and household employers have a grace period of ten days after the deadline. On the other hand, voluntary members, self-employed individuals, OFWs, non-working spouses, farmers, and fishermen have a grace period of five days after the deadline.
Additionally, members have various payment options available to them, including over-the-counter payments at SSS branches, online payments through the SSS website, and payments through accredited banks and payment centers. Late fees and penalties are imposed on members who fail to pay their contributions on time, but the SSS also offers a grace period for these fees.
Who Can Pay SSS Contribution?
Individuals who are employed, self-employed, non-working spouses, or OFWs up to age 60 with an existing SSS number can pay their contributions to receive social security benefits. Unemployed Filipinos who were previously covered as employed, self-employed, or OFW members with at least one month of posted contribution can only pay contributions as voluntary members.
On the other hand, self-employed members of the informal economy, such as farmers and fishermen, can voluntarily pay their SSS contribution. Since they are the most vulnerable member category, the SSS has offered them a more flexible contribution schedule that allows them to pay their monthly contribution anytime within the last twelve months before their payment schedule.
The SSS contribution rate is based on the monthly salary credit of the member and ranges from 11% to 14%, with a maximum monthly contribution of Php 1,760.00 for 2023. However, there are exemptions and reductions available for certain members such as those with low income, senior citizens, and persons with disabilities.
The deadline for SSS contribution payment is the 10th day of the following month, and there are penalties for late payments. It is important for members to regularly pay their SSS contributions to ensure that they are eligible for social security benefits in case of illness, unemployment, childbirth/miscarriage, disability, retirement, or death.
How To Compute Your Monthly SSS Contribution?
When it comes to remitting contributions to the Social Security System (SSS), two factors come into play: Membership type and Monthly Salary Credit (MSC).
Knowing how to compute your monthly SSS contribution is crucial in ensuring that you are paying the correct amount. It is important to understand the specific details behind membership type and MSC to ensure that you are remitting your contributions accurately.
Understanding the different membership types is essential in determining the appropriate contribution amount for each member according to their employment status.
The types of membership in the SSS include employed, kasambahay, self-employed, voluntary, non-working spouse, and OFW members. Each type has different rates of contribution, benefits, and eligibility requirements.
For instance, employed, kasambahay, and certain OFWs have their contributions deducted from their monthly salary and remitted to the SSS by their respective employers.
On the other hand, self-employed, voluntary, non-working spouses, and certain OFWs have to pay their entire contribution. By comparing the rates and benefits of each membership type, members can choose the most appropriate one for their needs.
Monthly Salary Credit (MSC)
Moving on from the membership type, it is essential to understand the monthly salary credit (MSC) and its significance in the computation of SSS contributions.
The MSC serves as the basis for calculating both contributions and benefits in the Social Security Law. It is directly proportional to one’s monthly earnings, meaning that the higher the income, the higher the MSC and consequently, the higher the required contribution.
The SSS contribution table lists the MSC range corresponding to each income bracket. It is important to note that any increase or decrease in the MSC will have a significant impact on the amount of contribution that members will need to pay. Therefore, understanding how MSC works is crucial for members to accurately compute their SSS contributions.
The new SSS contribution table for 2023 has been released, outlining the updated contributions for employees, self-employed individuals, OFWs, voluntary members, and non-working spouses. This schedule offers a variety of advantages, including increased benefits, improved access to healthcare, and expanded coverage for dependents.
Additionally, the updated deadline for SSS contribution payment allows for greater flexibility and ease of use for members. This new contribution table is a significant development for SSS members, as it offers a range of benefits and financial security for those who participate.
As the SSS continues to evolve and grow, it is critical that members stay informed about these changes and updates. By doing so, they can take full advantage of the benefits and services that the SSS has to offer, ensuring a brighter and more secure future for themselves and their families.
1. Is Paying SSS Contribution Mandatory?
Compliance with SSS coverage is compulsory for certain membership types, while voluntary and non-working spouse members have the option to contribute but can still qualify for benefits.
Here are some important things to keep in mind regarding SSS contributions:
- Failure to comply with SSS coverage may result in penalties and consequences such as the inability to access SSS benefits and loans.
- Members who are unable to pay their contributions for a certain period will still remain covered by SSS as long as they meet the eligibility criteria.
- Voluntary and non-working spouse members who opt to contribute to SSS may qualify for benefits such as retirement, disability, and death benefits.
- SSS coverage exemptions are available for certain members such as government employees and those who are covered by other similar programs.
- Members who are unable to pay their contributions may consider alternatives such as the SSS Loan Restructuring Program, which allows for easier payment terms.
Overall, while SSS contribution is mandatory for certain members, it is important to note that voluntary and non-working spouse members also have the option to contribute.
It is crucial to comply with SSS coverage and ensure timely payments in order to avoid penalties and consequences and to be able to access the benefits that SSS offers.
2. Should I Convert to a Self-Employed / Voluntary / OFW / Non-Working Spouse to Start Paying Contributions on My Own?
The decision to convert to self-employed/voluntary/OFW/non-working spouse membership in SSS is a matter of personal choice. However, it is important to note that paying SSS contributions is mandatory for all individuals who are employed or have their own source of income. The benefits of being an SSS member are numerous, including sickness, maternity, disability, and retirement benefits, among others.
To be eligible for self-employed/voluntary/OFW/non-working spouse membership, one must meet certain requirements, such as being at least 18 years old and not more than 60 years old for self-employed and voluntary members and being a non-working spouse of an SSS member.
The process of converting to these membership types is relatively easy and can be done online for voluntary and OFW members, while self-employed and non-working spouse members must fill out and submit the Member Data Change Request Form. It is also important to note that failure to pay SSS contributions may result in consequences such as ineligibility for benefits and penalties for late payments.
Therefore, it is recommended to start paying contributions on your own as soon as possible to ensure that you can fully avail yourself of the benefits and avoid any penalties.
3. Can Ex-Pats Pay SSS Contributions?
Foreign residents in the Philippines who wish to partake in the benefits of SSS membership are required to obtain an SSS number before contributing. This involves the submission of a valid passport or other relevant identification documents, in compliance with the eligibility requirements mandated by the agency. Once an SSS number is secured, ex-pats can start paying their contributions and enjoy the same benefits as Filipino SSS members.
However, there are certain limitations and challenges that ex-pats may face when it comes to paying SSS contributions. One of the challenges that ex-pats may encounter is the lack of awareness about the SSS system and its contribution requirements. In addition, some ex-pats may find it difficult to contribute regularly due to their employment status or the nature of their work.
Nevertheless, the benefits of paying SSS contributions outweigh the challenges, as it provides valuable protection for ex-pats and their families in times of sickness, disability, retirement, or death. Expats who are unable to pay SSS contributions may also explore alternative options, such as availing of private insurance or other social security programs offered by their home country.
4. I’m an OFW. Can My Family Members in the Philippines Contribute to Me?
Assigning a representative back home to contribute for Overseas Filipino Workers (OFWs) is a viable option for those who are unable to personally pay their Social Security System (SSS) contributions. However, it is important to ensure that the necessary payment details and Personal Reference Number (PRN) are provided to avoid any delays in remittance to the SSS.
Additionally, regular monitoring of the posted contributions is necessary to ensure that all contributions are accounted for. It is worth noting that being an active SSS member and fulfilling the required contributions is crucial for OFWs to be eligible for SSS benefits. Thus, assigning a family member to contribute on your behalf is a convenient option to maintain your SSS membership status and ensure that you are able to avail yourself of the benefits in the future.
Aside from assigning a representative, OFWs also have the option to pay their contributions through SSS-accredited collecting partners in their host country. This provides a more accessible and convenient way to fulfill their SSS obligations while working abroad.
5. Can I Change the Amount of SSS Contribution I’m Paying?
Yes, you and your family members in the Philippines can contribute to the SSS account of an OFW. However, it is worth noting that contributors have the option to adjust their SSS contribution amount. This means that they can choose to increase or decrease the amount of contribution they are paying depending on their financial capacity.
Furthermore, it is important to be aware of the possible consequences when adjusting SSS contribution. Adjustments must be made before the deadline set by the SSS, and failure to do so may result in penalties.
Additionally, overpayments may occur if the contributor mistakenly pays more than the required amount, which can be refunded by the SSS. On the other hand, exemptions may be granted to those who are unable to pay their contributions due to financial constraints. It is essential to properly manage SSS contributions to avoid any complications in the future.
6. How Do I Correct the Wrong Amount Posted on My Account?
To rectify an erroneous amount reflected on one’s account, it is imperative to personally visit the nearest SSS branch, along with the necessary identification documents and validated evaluation receipt, and request for verification and subsequent correction of contribution records. This process falls under the purview of the SSS customer service assistance.
The first step is to approach the nearest SSS branch office and inform them about the error. The SSS personnel will then ask for the necessary documents, which include UMID card/SSS ID or two valid IDs and a validated evaluation receipt. These documents will be used to verify the contributions made by the member and to identify the discrepancy that needs to be corrected.
Once the error has been identified and verified, the SSS personnel will process the correction and provide the member with a new account statement. If there is an overpayment, a refund request can also be made, and the SSS personnel will process the refund accordingly. It is important to note that there are timelines for corrections, and the SSS personnel will inform the member of the expected timeline for the correction to be reflected on their account.
7. My Latest Payment has Not Been Posted Yet. What Should I Do?
In the event of a delayed posting of the latest payment made to the SSS, it is advisable for the concerned member to reach out to the PRN Helpline through [email protected] after waiting for over a month, to inquire about the status of the payment.
It is important to note that payments may take a while before they get posted, despite the PRN implementation. Hence, it is recommended to wait for at least a month before making a follow-up with SSS Customer Service.
If the payment has not been posted after the waiting period, it is crucial for the member to follow up with SSS Customer Service immediately. This is to avoid any late payment penalty and to ensure payment confirmation. In case of a payment dispute or incorrect posting, the member may also contact SSS Customer Service to have the issue resolved.
8. I’ve Stopped My SSS Contribution Payment. Can I Continue Paying Now?
It is possible to resume payment of SSS contributions as a voluntary member, provided that the individual is below 60 years old and has previously made valid contributions as an employed, self-employed, or OFW member. Resuming payments can be done through various payment options, such as over-the-counter payments, online payments, or through accredited banks and payment centers.
It is important to note that late fees may apply for missed payments and that the frequency and amount of contributions may vary depending on the individual’s preference or financial capability.
As a voluntary member, one can continue to enjoy the benefits offered by the SSS, such as medical assistance, disability benefits, and retirement benefits. However, it is recommended to adjust contributions according to one’s income to maximize the benefits received. The new SSS contribution table for 2023 allows for a gradual increase in contribution rates, which would result in higher benefits and better financial security in the future.
Overall, resuming SSS contributions as a voluntary member is a wise decision for individuals who seek to secure their financial future and enjoy the full benefits of SSS.
9. My Employer is Not Paying My SSS Contributions. What Should I Do?
Employers who intentionally avoid remitting their employees’ SSS contributions violate the Social Security Law and may face fines and imprisonment. As an employee, it is important to take action and ensure that your contributions are being properly remitted. If you find out that your employer is not paying your SSS contributions, the first step is to ask your HR or employer about it before filing a complaint at SSS.
There might be a delay in either remitting or posting the contributions, so it is important to discuss any discrepancy you found in your SS contributions. Make sure to have your payslips that reflect SS deductions from your salary before talking with your employer, as it serves as proof of any discrepancy.
Once you inform your employer, follow up occasionally to ensure that action is being taken to fix the discrepancy. If your employer deliberately avoids paying your contributions for a long time, it is important to seek legal options. Filing a non-remittance complaint at the SSS branch nearest your employer’s office or business location is the best course of action. Bring your payslip, company ID, Employment Contract, and Income Tax Return (ITR) as proof of employment.
The SSS Accounts Management Section will assist you throughout the process of filing a complaint. Moreover, the SSS hotline is available to provide assistance and mediation services.
In cases of financial difficulty, SSS also offers financial assistance to its members to help them during difficult times.
Remember that as an employee, you have the right to ensure that your SSS contributions are being properly remitted, and taking action can help protect your future benefits.
10. Can I Withdraw My SSS Contribution?
Understanding the limitations of withdrawing SSS contributions is crucial for members to effectively plan for their future financial security. Unlike Pag-IBIG contributions, SSS contributions cannot be refunded.
Members can only file a claim for benefits or claim their SSS pension upon reaching retirement age. This means that once members start contributing to SSS, they are committed to continue contributing until they reach retirement age or until they meet the eligibility criteria for claiming benefits.
Withdrawal rules for SSS contributions are strict, and members should not rely on them as a source of emergency funds. Members who wish to withdraw their contributions must meet specific eligibility criteria and follow the application process. The time frame for processing the application can also be lengthy and may delay the release of the funds.
As such, it is important for members to understand the rules and limitations of SSS contribution withdrawal and plan their finances accordingly.
11. When Should I Stop Paying the SSS Contribution?
Ceasing SSS contributions after claiming total disability or retirement benefits may be an option for some people.
However, it is important to note that stopping contributions may result in a smaller monthly pension and disqualification from availing of SSS benefits and loans. Voluntary members should continue contributing to increase their retirement benefits.
There are several reasons to stop paying SSS contributions, such as reaching the 120-monthly contribution requirement or being 65 years old and above.
However, it is important to consider the consequences of non-payment, such as a smaller monthly pension and disqualification from availing of SSS benefits and loans.
If you wish to stop your SSS contributions, you must go through a process to formally request it. Alternatively, you may explore alternatives to SSS contribution such as investing in a retirement plan or other financial instruments to secure your financial future.
12. Who are the Primary Beneficiaries of an SSS Member?
In the unfortunate event of an SSS member’s demise, the primary beneficiaries entitled to receive benefits from the member’s contributions are the legitimate dependent spouse until remarriage, legitimate, legally adopted, and illegitimate children below 21 years old. Moreover, in the absence of the aforementioned beneficiaries, the member’s parents.
The eligibility requirements for the dependent’s benefits include providing the appropriate documentation such as the marriage certificate for the spouse, birth certificate for the children, and proof of legal adoption for adopted children.
In addition, the member must have paid at least 36 monthly contributions before the contingency occurred to qualify for death benefits. Aside from death benefits, SSS members are also entitled to disability benefits and retirement benefits.
The eligibility requirements for disability benefits include being unable to work due to a partial or total disability that is expected to last for more than 120 days and having paid at least one monthly contribution before the contingency occurred.
On the other hand, to qualify for retirement benefits, the member must be at least 60 years old and have paid at least 120 monthly contributions before the contingency occurred. Knowing the eligibility requirements for these benefits can help SSS members plan for their future and ensure that their primary beneficiaries are well taken care of in case of unexpected events.
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